Evolution Mining 2015 Full Year Financial Results

27 August 2015 Jake Klein – Executive Chairman Lawrie Conway – Finance Director and Chief Financial Officer

2

Forward looking statement

� These materials prepared by Evolution Mining Limited (or “the Company”) include forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

� Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

� Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

� Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Three pillars

3

A strong platform for growth

Operations Discovery M&A

Act like owners to maintain a cost and productivity focus

over the longer term

Using science and technology to

improve probability of transformational

discoveries

Improve the quality of asset portfolio

through opportunistic, logical, value

accretive acquisitions

Creating shareholder value

� 26 August 2015: Cowal Resources and Reserves increase

� Mineral Resources increased by 1.66 Moz (48 %) to 5.09 Moz

� Ore Reserves increased by 630 koz (40 %) to 2.18 Moz

� 24 August 2015: La Mancha transaction completed

� Unconditional FIRB approval received

� Appointment of two new directors effective 1 September 2015

� 445,876,699 new fully paid ordinary shares issued

� Integration progressing well

� 20 August 2015: Announcement of intention to make a takeover bid for Phoenix Gold

� 24 July 2015: Cowal transaction completed. Integration has run according to plan

Overview of recent activity

4

Improving asset quality

� Record financial performance

� Underlying profit up 112 % to A$106.0 M

� Statutory profit up 100 % to A$100.1 M

� Sales revenue up 5 % to A$666.0 M

� EBITDA increased by 28 % to A$266.4 M

� Low Group cash cost of A$711/oz (US$554/oz)1

� Improved AISC2 of A$1,036/oz (US$807/oz)1

� Healthy balance sheet

� Gearing reduced from 12 % to 4.3 %3 (pre-equity raising)

� Final dividend declared – 1 cent per share unfranked

FY15 financial highlights

5

1. Calculated using an average AUD:USD exchange rate for the June 2015 quarter of US$0.779 2. All-in Sustaining Cost includes C1 cash cost, plus royalty expense, plus sustaining capital expense, plus general corporate and administration expenses on a per ounce produced basis 3. Prior to completion of Cowal and Mungari acquisitions

Delivering improved financial performance

7.06

14.84

13.71

- 2.00 4.00 6.00 8.00

10.00 12.00 14.00 16.00

cps Earnings per share

30/06/2014 30/06/2015

772

711

680690700710720730740750760770780

A$/oz C1 cash cost2

30/06/2014 30/06/2015

(Down 8%)

383

427

360

370

380

390

400

410

420

430koz

Gold sales1

30/06/2014 30/06/2015

(Up 11%)

33% 40%

0%5%

10%15%20%25%30%35%40%45%

EBITDA margin2

30/06/2014 30/06/2015

(Up 21%)

Key profit metrics all trending positively

6

1. Gold sales are gold only – not gold equivalent 2. EBITDA and C1 are non-IFRS financial information and are not subject to audit 3. Earnings per share is underlying and pre-equity raising. Statutory EPS is 13.71 for FY15

3

(Up 110%)

Record FY15 profit

7

� Higher sales, lower costs and a higher A$ gold price, offset by lower by-product volume

50.0

64.6

17.7

46.3 4.4

36.5

8.9 3.1

106.0

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A$M Net profit (A$M)

� Operating cash costs reduced by 5 – 20 %; group total reduced by 9 % � Activity and production increased during the period offsetting 2 % reduction in grade

� Underground ore tonnes mined up 11 % � Ore tonnes processed up 3 % � Gold production up 2 %

Lower cash costs of sales at all sites

8

397.1

4.8

5.1 18.3

4.6

3.7

360.5

Cash cost ofsales 2014

Cracow Edna May Mt Carlton Mt Rawdon Pajingo Cash cost ofsales 2015

A$M Mine cash cost of sales

� Strong turnaround at Edna May � Mt Carlton successfully offset the impact of reduced by-product credits (A39 complete)

1,058

1,213

886 854

1,291

1,050

898 912 873

1,163

650

750

850

950

1,050

1,150

1,250

1,350

Cracow Edna May Mt Carlton Mt Rawdon Pajingo

All-in sustaining cost (A$/oz)

FY14 FY15

All in sustaining costs

9 Mt Carlton by product credit

1,069 1,054

A$/oz

� Increased EBITDA Margin at every operation � Driven by lower costs and productivity improvements

EBITDA margins

10

40%

33%

Group EBITDA margin

42%

29% 33%

47%

29%

45% 48% 41%

53%

40%

0%

10%

20%

30%

40%

50%

60%

Cracow Edna May Mt Carlton Mt Rawdon Pajingo

EBITDA margin

30/06/2014 30/06/2015

� Mine cash generation up 47% � Ability to fund capital programs and remain cash positive � Benefit of diverse portfolio with consistent contribution

Mine cash flow

11

Cracow, 24%

Edna May, 26%

Mt Rawdon,

24%

Pajingo, 10%

Mt Carlton,

16%

Mine cash contribution (%)

30.2

16.2

26.1

11.7

6.8

33.4 35.8

22.2

32.9

13.5

-

5

10

15

20

25

30

35

40

Cracow Edna May Mt Carlton Mt Rawdon Pajingo

Mine Cashflow (A$M)

FY14 FY15

� Exploration expenditure increased by 18% to A$24.0M (FY14: A$20.3M)

� Successful resource definition drilling of deeper mineralisation at Edna May

� Drilling guided by 3D seismic extended mineralised zone at Pajingo’s Camembert prospect

� Multiple zones of copper sulphide mineralisation interpreted as extensions to nearby Goanna discovery at Tennant Creek JV

Discovery

12

Cracow 19%

Edna May 3%

Mt Carlton 15%

Mt Rawdon

2%

Pajingo 32%

Tennant Creek 29%

Exploration investment

� Record operating cash flow to fund sustaining capital, major capital and exploration � Payment of dividends maintained � Net cash flow underpins serviceability of debt – enhanced in FY16 by Cowal and Mungari

Strong group net cash flow

13

284.7

77.0

91.2 21.3 5.6

89.7

16.7 11.5

61.4

239.6

126.8

174.2

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A$M Cash flow (A$M)

13.5% 12.0%

4.3%

0.0%

2.0%

4.0%

6.0%

8.0%

10.0%

12.0%

14.0%

16.0%

30/06/2013 30/06/2014 30/06/2015 PreEquity

Gearing (%) [ND/D+E]

Hedge profile

-

� Gearing reduced by 65 % during year (pre-equity raising and debt repayment)

� New facilities in place for Cowal and Mungari acquisitions

� Revolver facility of A$300 M (3 year term)

� Term loan of $400 M (amortises over 5 yrs)

� Performance bond facility of A$155 M

� Prudent hedging program in place

� Profile at 20-25 % of production for 3 years

� 522k oz at A$1,562/oz average1

� New assets offer options for later years

� Return to shareholders remains a focus

� Final dividend represents 4.2 % of revenue for 6 months

� Franking credits of A$11.8 M become available post closing La Mancha transaction

Balance sheet and gearing

14

24% 23% 18%

76% 77% 82% 100% 100%

FY16 FY17 FY18 FY19 FY20`

Hedged % Unhedged %1. As at 24 August 2015 on completion of La Mancha transaction

FY16 guidance

15

Guidance FY16 Gold production C1 cash costs All-in sustaining cost

(oz) (A$/oz) (A$/oz)

Cracow 85,000 – 95,000 730 – 800 1,080 – 1,150

Pajingo 60,000 – 65,000 810 – 890 1,180 – 1,260

Mt Rawdon 87,500 – 97,500 620 – 680 880 – 940

Edna May 82,500 – 90,000 1,060 – 1,160 1,225 – 1,325

Mt Carlton 80,000 – 87,500 525 – 575 760 – 810

Cowal1 215,000 – 240,000 650 – 750 860 – 950

Mungari2 120,000 – 135,000 730 – 830 920 – 1,020

Corporate - - 30

Group3 730,000 – 810,000 715 – 795 990 – 1,060

1. Cowal transaction completed on 24 July 2015. Guidance includes 11.2 months of production 2. La Mancha transaction completed on 24 August 2015. Guidance includes 10.2 months of production from Mungari 3. Equates to annualised FY16 Group Gold Production of 770,000 – 850,000 ounces

Guiding annualised FY16 Group Gold production of 770,000 – 850,000 ounces

� Underlying profit up 112 % to A$106.0 M

� Low Group cash cost of A$711/oz (US$554/oz)

� Improved AISC of A$1,036/oz (US$807/oz)

� Increased EBITDA margins at every operation � Record Group net cash flow � Consistent returns to shareholders via revenue-linked dividend policy � Proactive balance sheet management � Leveraging operating success to upgrade asset portfolio quality � Acquisition of Cowal, Mungari and intention to make a takeover bid for Phoenix Gold � FY16 Group gold production guidance of 730,000 – 810,000 ounces

(annualised at 770,000 – 850,000 ounces)

Summary

16

We Say, We Do, We Deliver

Evolution Mining ASX Code: EVN

www.evolutionmining.com.au

Evolution Mineral Resources Dec 2014 Evolution Mineral Resources – December 2014

Gold Measured Indicated Inferred Total Resource

Project Type Cut-Off Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Cowal1 Total 0.40 35.94 0.72 836 104.28 1.11 3,712 22.65 0.74 539 162.87 0.97 5,087

Cracow1 Total 2.8 0.38 9.58 118 1.27 7.69 313 1.57 5.45 276 3.22 6.82 707

Pajingo Open pit 0.75 – – – 0.00 8.04 1 0.25 1.33 11 0.25 1.45 12

Pajingo1 Underground 2.5 0.1 11.10 37 1.88 6.08 368 2.49 5.07 406 4.48 5.64 811

Pajingo Total 0.1 11.10 37 1.90 6.08 369 2.76 4.74 417 4.73 5.41 823

Edna May1 Open pit 0.4 – – – 26.00 0.94 783 5.22 0.99 167 31.22 0.95 949

Edna May Underground 3.0 – – – – – – 0.51 6.45 106 0.51 6.45 106

Edna May Total – – – 26.00 0.94 783 5.73 1.48 273 31.73 1.03 1,056

Mt Carlton1 Open pit 0.35 0.09 6.00 17 8.4 3.02 815 – – – 8.49 3.07 832

Mt Carlton Underground 2.5 – – – – – – 0.33 3.65 39 0.33 3.65 39

Mt Carlton Total 0.09 6.00 17 8.40 3.02 815 0.33 3.65 39 8.82 3.07 871

Mt Rawdon1 Total 0.23 1.04 0.51 17 46.00 0.72 1,069 3.65 0.59 69 50.69 0.71 1,156

Mungari1 Open pit 0.5 0.01 4.38 1 19.13 1.35 829 3.74 1.07 129 22.88 1.30 959

Mungari1 Underground 2.5/1.2 1.47 7.09 335 8.54 2.95 809 6.85 2.42 534 16.83 3.10 1,678

Mungari1 Total 1.48 7.06 336 27.67 1.84 1,638 10.59 1.95 663 39.75 2.06 2,637

Twin Hills+ Open pit 0.5 – – – – – – 3.06 2.1 204 3.06 2.1 204

Twin Hills+ Underground 2.3 – – – – – – 1.56 3.9 194 1.56 3.9 194

Twin Hills+ Total – – – – – – 4.62 2.7 399 4.62 2.7 399

Total 39.03 1.08 1,361 215.52 1.26 8,699 51.90 1.60 2,675 306.43 1.29 12,736

The Cracow, Pajingo, Edna May, Mt Carlton, Mt Rawdon and Twin Hills figures are provided in the report entitled “Annual Mineral Resources and Ore Reserve Statement 2014” released to ASX on 14 May 2015. The Mungari (White Foil open pit, White Foil underground 1.2 g/t Au cut-off and Frog’s Leg underground 2.5 g/t Au cut-off) figures are extracted from the report entitled “Evolution to Combine with La Mancha Resources Australia to Form a Leading Growth-focused Australian Gold Producer” released to ASX on 20 April 2015. Cowal figures are extracted from the report entitled “Resources and Reserves increased at Cowal” released on 26 August 2015. All documents are available to view at www.evolutionmining.com.au Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding Mineral Resources are reported inclusive of Ore Reserves 1Includes stockpiles + Twin Hills has not changed as it is being reported as 2004 JORC Code Due to depletion of A39 at Mt Carlton and lower grade Ag, Cu for remaining resource at Mt Carlton, the 2014 Mineral Resources and Ore Reserves statement has been reported in gold ounces The Cowal mine was acquired on 24 July 2015 and the Mungari assets on 24 August 2015 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report and that all material assumptions and technical parameters underpinning the estimates in the Report continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Report

Evolution Ore Reserves Dec 2014

Evolution Ore Reserves – December 2014

Gold Proved Probable Total Reserve

Project Type Cut-Off Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Tonnes (Mt)

Gold Grade (g/t)

Gold Metal (koz)

Cowal1 Open pit 0.40 35.94 0.72 836 36.64 1.14 1,346 72.58 0.93 2,181

Cracow1 Underground 3.5 0.38 7.41 91 0.78 6.31 158 1.16 6.67 248

Pajingo1 Underground 3.3 0.15 7.85 38 0.29 6.50 60 0.44 6.96 98

Edna May1 Open pit 0.5 - - - 11.73 1.02 387 11.73 1.02 387

Mt Carlton1 Open pit 0.9 0.09 6.00 17 4.36 4.30 607 4.45 4.40 625

Mt Rawdon1 Open pit 0.3 1.04 0.50 17 34.19 0.78 862 35.22 0.80 879

Mungari1 Underground 3.0 1.81 5.52 320 0.72 5.30 123 2.53 5.46 443

Mungari1 Open pit 0.75 - - - 6.79 1.55 338 6.79 1.55 338

Mungari1 Total 1.81 5.51 320 7.51 1.91 461 9.32 2.61 781

Total 39.40 1.04 1,319 95.49 1.26 3,880 134.89 1.20 5,198

The Cracow, Pajingo, Edna May, Mt Carlton, and Mt Rawdon are provided in the report entitled “Annual Mineral Resources and Ore Reserve Statement 2014” released to ASX on 14 May 2015. The Mungari (White Foil open pit and Frog’s Leg underground) figures are extracted from the report entitled “Evolution to Combine with La Mancha Resources Australia to Form a Leading Growth-focused Australian Gold Producer” released to ASX on 20 April 2015. Cowal figures are extracted from the report entitled “Resources and Reserves increased at Cowal” released on 26 August 2015. All documents are available to view at www.evolutionmining.com.au Data is reported to significant figures to reflect appropriate precision and may not sum precisely due to rounding 1Includes stockpiles Due to depletion of A39 at Mt Carlton and lower grade Ag, Cu for remaining resource at Mt Carlton, the 2014 Mineral Resources and Ore Reserves statement has been reported in gold ounces The Cowal mine was acquired on 24 July 2015 and the Mungari assets on 24 August 2015 The Company confirms that it is not aware of any new information or data that materially affects the information included in the Report and that all material assumptions and technical parameters underpinning the estimates in the Report continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the Report